PITTSBURGH — Pittsburgh-based HFF has arranged $210 million in first lien financing for a 10-property retail portfolio totaling 973,985 square feet in Arizona, California, Kansas, North Carolina and Texas.
Kevin MacKenzie, Jim Curtin, Cory Fowler, Jamie Kline and Lauren LaFever of HFF worked on behalf of the borrower, Westwood Financial Corp., to place a 10-year, $110 million, fixed-rate portfolio loan with a life insurance company and a $100 million senior credit facility with Wells Fargo Bank’s Real Estate Capital Markets Group.
The loans were secured in correlation with Westwood’s recent $1.2 billion consolidation and reorganization.
The $110 million loan was secured against six retail assets including the 79,575-square-foot Village Plaza in Phoenix; the 65,054-square-foot Plaza Del Rio in San Juan Capistrano, Calif.; the 103,124-square-foot Stateline Village in Prairie Village, Kan.; the 46,789-square-foot Hebron Parkway Plaza in Carrollton, Texas; the 226,414-square-foot Old Town Shopping Center in Dallas; and the 79,226-square-foot Steelecroft Shopping Center in Charlotte, N.C.
Tenants at the 91 percent-leased portfolio include Harris Teeter, Sprouts, Hy-Vee, Tom Thumb, Vons, PetSmart, LA Fitness and Michaels.
The assets included in the Wells Fargo credit facility included the 77,031-square-foot Camelback Village anchored by AJ’s Fine Foods in Phoenix; the 89,506-square-foot Mercado Del Rancho anchored by Sprouts Farmers Market in Scottsdale, Ariz.; the 30,300-square-foot Magnolia Vineland Shopping Center, shadow-anchored by Ralph’s in North Hollywood, Calif.; and Legacy Village, shadow-anchored by Target in Phoenix.
— Katie Sloan